Japan’s first IR could be delayed

Plans to build Japan
Plans to build Japan

Coronavirus outbreak raising concerns over whether timetable for issuing licences is achievable.

Japan.- The approval for Japan’s first integrated casino resorts could be delayed as the country battles the spread of Coronavirus.

Jurisdictions interested in applying for one of three licences up for grabs are currently being asked to submit proposals between now and July 2021.

But economic damage from the Coronavirus pandemic is giving government and city officials a headache over whether the current timeline and schedule are achievable.

Osaka, which is currently considered the front-runner for one of the licences recently announced it was extending its window for proposals by three months.

The extension came after a consortium led by MGM Resorts International and financial conglomerate Orix Corporation requested a delay due to the impact of Covid-19 on MGM’s casinos in the United States.

According to The Japan Times, the committee behind the Osaka bid is planning to select a proposal by November, then have the central government approve it by autumn 2021 and open the resort by spring 2025.

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